4 Recovery and Restructuring Solutions Used By Small Businesses

By Keith Tully

In some situations a bit of creativity will be needed to facilitate a turnaround and get your company back to operating in a profitable manner. However, more often than not you won’t need to be an innovator to save your business, you’ll just need to consider some of the commonly overlooked recovery and restructuring options that are applicable and readily available:

1. Using Assets as Leverage to Obtain Financing

Even if you have poor credit you may be able to obtain financial assistance by using some of your assets (i.e. – equipment, inventory, real estate, etc.) as collateral in obtaining approval for a secured loan. However if you were to default on such an agreement then the lender would potentially have the right to seize the assets you used as a security, so keep that in mind before you put your home on the line.

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Guest Post: How to Do Your Taxes if You’re a Freelancer

This article was originally printed on LearnVest.com.

You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to … keep really good records of all your expenses for your taxes.

We know. Not so fun. The reality is, being self-employed can be awesome for 11 months out of the year, and then come crashing down on your head in the form of lost receipts and unpaid estimated taxes in April. We want to save you from that sinking feeling. Read on for what every freelancer needs to know for your taxes.

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